Asia’s biggest economies are already feeling the brunt of the coronavirus shock. The warning signs come as finance chiefs from the world’s 20 biggest economies meet this weekend in Riyadh, Saudi Arabia for the first time since the virus outbreak. Shipments to China, South Korea’s biggest trade partner, fell 3.7% during the first 20 days. The early reading is typically held up as a bellwether for global trade given South Korea’s central role as a manufacturer and exporter of electronics, ships and automobiles. Still, global debt is at record levels and interest rates in the world’s biggest economies are already at historic lows.

Source: Mint February 21, 2020 03:22 UTC